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August 22, 2015

Long before Adam Smith was born the “invisible hand” was used regularly in the 17th century - and before then too. It was used by Smith ONLY three times - twice without reference to markets and the third time as a metaphor for domestic capital investment arithmetically adding to what we now call GNP.

Markets do not operate “rationally”. They are operated by human beings and like governments, also operated by human beings, they make many mistakes and misjudgements, including by people who quite “rationallly” act for selfish purposes closer to failure and often criminality than to the benefit of other people. The future is not “determined”, nor known, and people in futures markets are no better than gamblers making guesses, much like tipsters in the horse racing business, usually with other people's money. POSTED BY GAVIN KENNEDY AT2:17 P.M

India the Secular State (The Right Interpretation and the Wrong) - Amal Kiran (K D Sethna)

India's Independence and the Spiritual Destiny - R Y Deshpande

Sri Aurobindo and the Indian National Movement - R K Das Gupta

Cripps’s Mission: an Analysis - Divakar and Sucharu

Note: The month of March is memorable for what took place in it in 1942. The most thorough account of that significant event appeared last year in the October issue of the Students' Magazine, Vers 1'Avenir, from the Sri Aurobindo International Centre of Education, pp. 22-25. We congratulate its authors, Divakar and Sucharu, and are proud to reproduce their work in our pages minus the short introductory paragraph. At the end we have appended the famous exchange between Sri Aurobindo and Sir Stafford Cripps as well as some other relevant matter of importance not generally known. This is the prefatory note by (Amal Kiran) KD Sethna, the editor of Mother India when he published it in the March 1992 issue of the periodical.